Friday, 17 August 2018 12:08

Profits hit a high as customer numbers climb to a million-plus for Kogan Featured

By
Kogan CEO & founder Ruslan Kogan Kogan CEO & founder Ruslan Kogan

Online retailer Kogan has had a big jump in revenue and profits for the full year to 30 June, on the back of a 45% boost in active customers to now claim 1.38 million total active customers.

According to today’s FY 2018 results announcement, Kogan added 433,000 active customers over 12 months, with revenue of $412.3 million – up 42.4% ($122.79 million) on the 2017 financial year.

Kogan (ASX:KGN) had a massive boost to its bottom line, posting full-year profits of $14.11 million – a 277%, or $10 million rise over last year’s profits of $3.74 million.

The company says it is continuing to expand product offerings, on-board new and market-leading brands and leverage digital efficiencies to bring “best-in-market” offers to consumers.

And, Kogan says its partner brands product division is now a larger contributor to gross profit than the global brands product division, while exclusive brands continue to be the largest contributor to gross profit.

Kogan reported an EBITDA of $26.0 million, up 108.0% on the prior year, driven by growth in product divisions, Kogan Mobile and investments in marketing and inventory.

“In financial year 2018, we have significantly invested in and improved our customer offering. We now operate in more industries than ever with a very compelling offer in each industry,” said Ruslan Kogan, founder and chief executive of Kogan.

“We continue to invest in our brand to drive our growing portfolio of businesses and improve our value proposition.

“While earnings from the business have more than doubled over the prior year, our consumer offer is now stronger than ever.”

Kogan said the company was focused on maintaining its “price leadership position”, while delivering growing earnings to shareholders – principally by focusing on digital efficiency and maintaining low overheads.

“We are extremely excited about our pipeline of initiatives that will further enhance our competitive offering in the near future and progress our mission to make the most in-demand products and services more affordable," he said.

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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